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Sunday, July 19, 2009

PickensPlan: Washington Times Writes about Boone & The Pickens Plan

The Washington Times, one of the two major dailies in the Nation’s Capital, has a major story about T. Boone Pickens and the state of the Pickens Plan.
The article, written by reporter John Krudy, points that Boone “is ramping up his campaign to cure the nation’s energy dependence in the face of skeptics who say the effort is too ambitious.”
Worried by the massive transfer of wealth to foreign and often unfriendly nations, the Texan last July proposed the Pickens Plan, a rapid national move to wind energy, with a decade’s detour to natural gas, which would serve as a clean “bridge fuel” until we reached the promised land of wind power.
He has been using his considerable influence and money from five decades in the oil industry to persuade Congress to pass legislation encouraging natural gas use, with ranking members in both chambers supporting him.
Krudy reports that Boone is very bullish on natural gas, especially with the development of new technologies to recover natural gas from shale deposits.
“These new reserves are unbelievable - that discovery is the biggest break this country has got in my lifetime,” Mr. Pickens said. “Don’t worry about the wells; private industry will bring them in. Natural gas is cleaner. It’s cheaper. It’s 130 octane; you can clean it up with a simple separator, and it’s ready to go. Oil needs a refinery.”
In the Congress, Krudy writes, legislation is moving along:
Sen. Harry Reid, Nevada Democrat, called himself “an absolute convert” to Mr. Pickens’ plan and said he expects the Senate to pass legislation giving tax credits of up to $80,000 to consumers buying natural gas vehicles. Earlier this month, Freightliner rolled out the first semitruck designed to run on natural gas. The company estimates the truck will save the typical driver $6,000 a year in fuel costs. It’s the archetype of what Mr. Pickens wants the nation’s truck fleet to become.
To read the entire article click HERE.
– The Pickens Team